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Friday, Feb 23, 2024

Retail gas hits record $3.50 a gallon as oil marches higher

NEW YORK — Retail gas prices hit another new milestone April 21, jumping to an average $3.50 a gallon at filling stations across the country. Crude oil prices, meanwhile, set new records of their own, spiking above $117 a barrel after an attack on a Japanese oil tanker in the Middle East. Diesel prices at the pump also struck a record high of $4.20 a gallon, according to AAA and the Oil Price Information Service, putting pressure on truckers and other shippers who rely on the fuel to transport goods to market. Gas and diesel are expected to keep climbing as they trace the path of crude, which has surged to new records for six trading sessions in a row. And the worst may be still to come: The summer driving season, when demand is at its greatest, has yet to begin. For the full story visit http://www.latimes.com/business/nationworld/wire/ats-ap_business10apr21,1,4674181.story

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